Jack Ma's financial technology business Ant Financial plans to raise $9 billion in its latest round of funding, that could value the company at $150 billion, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.

Reuters had earlier reported that the company which owns China's top online payment platform Alipay, is planning to raise up to $5 billion in fresh equity that could value the online payments giant at more than $100 billion.

The company is expected to list on both domestic and overseas exchanges, according to people familiar with the company's plans, WSJ reported.